5815 Airport Boulevard

Challenge

• ECR was hired to represent the seller in their disposition of a 10,742 square foot office property in Central Austin.
• The ownership of 5815 Airport Blvd. was very interested in finding an immediate buyer, due to the building being vacant for the prior 18 months.
• ECR’s initial goal was to assist in positioning the asset for a top of the market price sale.
• When ECR was engaged, 5815 Airport was slated for disposition within a 5-month window.

Strategy

• ECR and the client worked together to create a clear and accurate schedule, pricing, and strategy for the property.
• Throughout the planning process, ECR researched and prepared reports on all recent comparable sales transactions as well as similar properties that were on the market at that time.
• Once the pricing was established, the ECR team created an aggressive and strategic marketing campaign designed to directly target all prospective users, as well as local and regional real estate investors and brokers.
• This plan was immediately deployed as ECR approached and presented the opportunity to all neighbors, prospective tenants/users, as well as investors that would likely be the best suitor for the property.

Results

• ECR successfully represented the sale of 5815 Airport Blvd., a 10,742 SF office building situated on 1.4 acres.
• ECR sourced a qualified buyer for the property and was able to negotiate the optimal sales price.
• By letting all potential suitors know about the opportunity and then leveraging all interest, the buyer was quickly selected. ECR attributes this success to the responsiveness and collaboration between its team and the client.
• This building represents the highest sales price per square foot in the Central Austin submarket for a boutique office building.